The Economic Times

Why US stocks are rising: Nasdaq hits record after weaker jobs data cools rate-hike bets; Nike shares drop on forecast

US stocks rose, with the Nasdaq Composite hitting a record high after disappointing jobs data emerged. Lower Treasury yields and declining oil prices contributed to the positive market sentiment. Notable gains were observed in semiconductor stocks, with Nvidia reaching an intraday record high. Nike's shares fell due to forecasts of a significant revenue decline linked to challenges in China.